BHP Group (NYSE:BHP) Hits New 1-Year High – Here’s Why

Shares of BHP Group Limited Sponsored ADR (NYSE:BHP) reached a new 52-week high during trading on Monday . The stock traded as high as $82.65 and last traded at $82.5760, with a volume of 2373988 shares. The stock had previously closed at $81.57.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BHP. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of BHP Group in a report on Wednesday, February 18th. Citigroup restated a “neutral” rating on shares of BHP Group in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research report on Wednesday, January 21st. Wall Street Zen raised shares of BHP Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Argus upgraded shares of BHP Group from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BHP Group presently has a consensus rating of “Hold” and an average price target of $56.00.

BHP Group Trading Up 1.9%

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28. The company has a 50-day moving average price of $68.43 and a 200 day moving average price of $60.14.

BHP Group Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 6th will be paid a dividend of $1.46 per share. This represents a dividend yield of 399.0%. The ex-dividend date of this dividend is Friday, March 6th.

Institutional Investors Weigh In On BHP Group

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of BHP Group by 1.3% in the 4th quarter. Parallel Advisors LLC now owns 12,039 shares of the mining company’s stock valued at $727,000 after acquiring an additional 150 shares during the period. Bailard Inc. boosted its position in BHP Group by 1.4% during the fourth quarter. Bailard Inc. now owns 12,395 shares of the mining company’s stock valued at $748,000 after purchasing an additional 174 shares in the last quarter. Addison Advisors LLC grew its stake in BHP Group by 31.8% in the fourth quarter. Addison Advisors LLC now owns 751 shares of the mining company’s stock valued at $45,000 after purchasing an additional 181 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in BHP Group by 3.0% in the third quarter. Financial Management Professionals Inc. now owns 6,418 shares of the mining company’s stock worth $358,000 after purchasing an additional 185 shares in the last quarter. Finally, TT Capital Management LLC lifted its position in shares of BHP Group by 3.5% during the second quarter. TT Capital Management LLC now owns 5,617 shares of the mining company’s stock valued at $270,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.